Ross Stores
American off-price department store company operating Ross Dress for Less and DD's Discounts.
Last updated August 31, 2026
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Overview
Ross Stores, Inc. is an American off-price retail company headquartered in Dublin, California. Its principal chain, Ross Dress for Less, sells clothing, footwear, accessories, home furnishings, and related merchandise at prices generally below those of conventional department stores and full-price specialty retailers. The company also operates DD's Discounts, a lower-priced format serving value-oriented shoppers. The business traces its roots to a department store opened by Morris "Morrie" Ross in San Bruno, California, in 1950. Ross sold the original store in 1958, after which purchaser William Isackson expanded the operation to six stores in the San Francisco Bay Area. In 1982, a group of investors that included Mervin Morris, the founder of Mervyn's, acquired the six-store chain and converted it to an off-price format. Under the leadership of Stuart Moldaw and Don Rowlett, the business expanded rapidly, reaching 107 stores within three years. Ross Stores became a public company in 1985. Its shares trade on Nasdaq under the symbol ROST. The company subsequently built a national store network through a combination of organic expansion and the development of its DD's Discounts banner. Ross's off-price model depends on purchasing branded and other merchandise opportunistically, including excess inventory, cancelled orders, and goods produced for other retailers. This approach allows stores to offer changing assortments and relatively low prices, while reducing reliance on the fixed seasonal collections and extensive promotional calendars used by many traditional department stores. Ross Dress for Less is the company's core and largest retail banner. Stores typically combine apparel for women, men, and children with shoes, accessories, beauty products, toys, luggage, and home merchandise. DD's Discounts uses a related off-price model but generally emphasizes even lower price points and serves a more narrowly value-focused customer base. Both formats are designed around frequent visits and constantly changing inventory rather than a highly standardized assortment. The company expanded substantially during the 1990s and 2000s. By 1995, the chain had 292 stores in 18 states. In 2012, Ross reported 1,091 Ross stores in 33 states, while DD's Discounts had 108 locations in eight states. The corporate headquarters moved from Newark to Pleasanton, California, in 2003 and then to neighboring Dublin in 2014. Ross continued extending its geographic reach across the continental United States and into U.S. territories; reference material reported 1,795 Ross stores in 43 states, Washington, D.C., Puerto Rico, and Guam as of July 2024, together with more than 353 DD's Discounts locations. The company expanded Ross Dress for Less into Puerto Rico in 2025. Leadership has included Michael Balmuth, who served as chief executive before Barbara Rentler became CEO in June 2014. Rentler was among the early women to lead a Fortune 500 company. In October 2024, the board appointed James Conroy, formerly chief executive of Boot Barn, to succeed Rentler effective February 2, 2025. Ross Stores remains an active, publicly traded off-price retailer whose competitive position is built on scale, purchasing flexibility, low operating costs, recognizable national brands, and a treasure-hunt shopping experience.
History
Ross Stores developed from a single California department store into a large American off-price retail company. Morris "Morrie" Ross opened the first Ross Department Store in San Bruno, California, in 1950. He personally handled much of the buying and bookkeeping and worked exceptionally long hours during the early years. Ross sold the business in 1958 to William Isackson and moved into residential and commercial real estate development. Isackson expanded the operation from its original location into a six-store Bay Area chain. The stores were located in San Bruno, Pacifica, Novato, Vacaville, Redwood City, and Castro Valley. A major strategic change occurred in 1982, when a group of investors acquired the six stores. The group included Mervin Morris, who had founded the Mervyn's department-store chain. Rather than continuing with a conventional department-store model, the new owners converted the business to off-price retailing. The off-price format emphasized buying merchandise at advantageous prices and passing savings to consumers. It also made inventory less dependent on a fixed assortment. Under Stuart Moldaw and Don Rowlett, Ross expanded quickly, growing to 107 locations within three years of the 1982 acquisition. This transformation established the basic business model that would define Ross Dress for Less: broad categories, recognizable brands where available, limited quantities, low prices, and merchandise that changes frequently. Ross Stores, Inc. completed its initial public offering on August 8, 1985. Its shares were offered at an initial price of $17.00 per share and later traded on Nasdaq under the ticker ROST. The company continued expanding through the late twentieth century. By the end of 1995, it had 292 stores in 18 states. The business increasingly moved beyond its original Northern California base and built a national footprint. The company also developed DD's Discounts as a complementary discount-store banner. DD's served a lower price segment while applying a related off-price approach. By 2012, Ross had 1,091 stores in 33 states and DD's Discounts had 108 stores in eight states. This period reflected the company's continuing effort to grow both its principal chain and its secondary format. Ross relocated its headquarters from Newark, California, to Pleasanton in 2003. In 2014, it moved again to nearby Dublin, California. That year also brought a chief executive transition: Barbara Rentler succeeded Michael Balmuth on June 1. Rentler became one of the women to lead a Fortune 500 company and remained associated with the company's modern expansion period. The chain continued extending its reach across the United States and selected U.S. territories. As of July 2024, reference material described 1,795 Ross locations in 43 states, Washington, D.C., Puerto Rico, and Guam, with no Ross presence in Alaska, as well as more than 353 DD's Discounts stores. In October 2024, the board announced that James Conroy would succeed Rentler as chief executive effective February 2, 2025. Conroy came to Ross after serving as chief executive of Boot Barn. In 2025, Ross Dress for Less expanded further in Puerto Rico. Across these stages, Ross Stores' identity remained tied to off-price retail: opportunistic purchasing, low prices, store-level assortment variability, and a shopping experience built around discovering limited-quantity merchandise. Its principal banners continue to focus on apparel, footwear, accessories, home goods, and other value-oriented categories.
- 2025
Ross expands into Puerto Rico
[1]Ross Dress for Less expands its presence in Puerto Rico.
- 2024
James Conroy appointed chief executive
[1]The board appoints James Conroy to succeed Barbara Rentler, effective February 2, 2025.
- 2014
CEO transition and Dublin headquarters
[1]Barbara Rentler succeeds Michael Balmuth as CEO, and the company moves its headquarters from Pleasanton to Dublin, California.
- 2012
Ross and DD's expand nationwide
[1]Ross has 1,091 stores in 33 states, while DD's Discounts has 108 locations in eight states.
- 2003
Headquarters moves to Pleasanton
[1]The company relocates its headquarters from Newark, California, to Pleasanton.
- 1995
Chain reaches 292 stores
[1]Ross reaches 292 stores across 18 states.
- 1985
Initial public offering
[1]Ross Stores becomes publicly traded on August 8, 1985, with an initial offering price of $17.00 per share.
- 1982
Business converted to off-price retailing
[1]A group of investors, including Mervin Morris, acquires the six stores and changes the format to off-price retail.
- 1958
William Isackson acquires the original store
[1]Ross sells the business to William Isackson, who develops it into a six-store San Francisco Bay Area chain.
- 1950
First Ross Department Store opens
[1]Morris "Morrie" Ross opens the original Ross Department Store in San Bruno, California.
Products and positioning
A value-focused off-price retailer offering branded and other merchandise at prices below conventional department stores and specialty retailers, with rapidly changing assortments and a treasure-hunt shopping experience.
Off-price department stores · 1982
Ross Dress for Less
Ross Dress for Less is the company's principal retail banner. Its stores sell women's, men's, and children's clothing, shoes, accessories, beauty products, home furnishings, bedding, bath merchandise, luggage, toys, and related goods. The assortment is intentionally fluid, with limited quantities and frequent changes. This model supports a discovery-oriented shopping experience and enables Ross to sell merchandise at prices generally below those of traditional department stores and full-price specialty retailers.
Value-focused off-price department stores
DD's Discounts
DD's Discounts is Ross Stores' complementary discount-store chain. It uses an off-price approach and emphasizes especially value-oriented price points across apparel, footwear, accessories, home merchandise, and other general merchandise categories. The banner has historically been concentrated in the United States, particularly in Sun Belt markets, and is positioned toward shoppers seeking lower prices and practical everyday assortments.
Brand decisions
2014
Development of the multi-banner retail structureStrategyBackground
Ross Stores had expanded its core Ross chain and developed DD's Discounts as a second value-oriented format.
Action taken
The company continued operating both Ross Dress for Less and DD's Discounts while relocating its corporate headquarters to Dublin.
Aftermath
The two-banner structure remained central to the company's store expansion and customer segmentation.
1985
Public listingOtherBackground
After rapid expansion under the off-price model, Ross Stores pursued access to public equity markets.
Action taken
Ross Stores, Inc. completed an initial public offering on August 8, 1985, and began trading on Nasdaq under ROST.
Aftermath
The listing provided the company with a public-market platform for subsequent growth.
Initial offering price per share. $17.00 (August 8, 1985)
1982
Conversion from department stores to off-price retailStrategyBackground
The investor group that acquired the six-store Ross chain sought a format capable of rapid expansion and lower consumer prices.
Action taken
The business was reorganized around off-price merchandise purchasing and stores with changing assortments.
Aftermath
The new format expanded to 107 stores within three years and became the foundation of the modern Ross business.
Recent events
Reported
Ross Stores announces Adam Orvos as CFO[3]
Ross Stores announced that Adam Orvos would be promoted to Executive Vice President and Chief Financial Officer effective October 1, 2021.
- Unconfirmed
Reported
Ross Dress for Less and dd’s DISCOUNTS open 30 stores[4]
Ross Stores opened 22 Ross Dress for Less and eight dd’s DISCOUNTS stores across 11 states in June and July 2021.
Reported
Landlord sues Ross Stores over alleged unpaid rent[5]
Palm Springs Mile Associates Ltd. sued Ross Stores in Florida district court, claiming the retailer owed $5.5 million in unpaid rent for three Florida stores. The complaint alleged Ross Stores missed rent payments due May 1 and said nonpayment would continue because of circumstances related to COVID-19.
Sources5 sources
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